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then they create this this thing it was because bowles was never elected to anything he was just a clinton staffer fact he got knocked down twice and twice he was defeated i don't know why these guys represent anybody but anyhow they said panetta burns because leon panetta used to be a clinton staffer and burns was a republican senator westerners a republican senator so they said well what do you think of the panetta burns strategy twenty five percent of americans support that thirty nine percent support simpson bowles doesn't this tell us something about the whole lane and americans are and how they want to agree with that nice fellow who's asking the question you think you think that was i want to look smart i think if the issue is that they want to look smart they want to look like they're in the know yes i can remember going there is nothing about this a lot of people are busy raising kids watching t.v. working and they want to participate in politics and they go no i can't agree with you and as a result of thirty five years or greater nomics both people the family are working they're
then they create this this thing it was because bowles was never elected to anything he was just a clinton staffer fact he got knocked down twice and twice he was defeated i don't know why these guys represent anybody but anyhow they said panetta burns because leon panetta used to be a clinton staffer and burns was a republican senator westerners a republican senator so they said well what do you think of the panetta burns strategy twenty five percent of americans support that thirty nine...
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president of americans for tax reform and robert reish, former secretary of labor for president bill clinton and the author of "beyond outrage." none of the three of us are beyond outrage, grover norquist, which is why i keep having you back. the situation it seems to me as an impartial observer here is that both sides have now made fairly ludicrous offers that they know the other side is never going to accept in a million years. that does beg the question, grover, why bother, given that both sides know where they need to move, why the games? >> well, it's not clear that both sides know. the week after the election, president obama was asked do you have to have the higher rates or could we have deductions and credits and he said he was open to negotiations. three weeks later, after thanksgiving, he shows up and all of a sudden there's a line in the sand on rates that had come out of nowhere, so the president seems to be moving the goal posts in a deliberate effort, i don't know, to extract something, to push people over the fiscal cliff. something's going on and it's not clear because he's n
president of americans for tax reform and robert reish, former secretary of labor for president bill clinton and the author of "beyond outrage." none of the three of us are beyond outrage, grover norquist, which is why i keep having you back. the situation it seems to me as an impartial observer here is that both sides have now made fairly ludicrous offers that they know the other side is never going to accept in a million years. that does beg the question, grover, why bother, given...
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according to "the new york times," blook called clinton to encourage her to run for mayor in 2013. the call reportedly took place months ago and hillary said thanks but no thanks. this comes as a recent headline from the new yorker editor david riddick declared hillary is running. he reads that conclusion after witnessing secretary clinton as a main speaker at a conference in washington this weekend where he says a slickly produced film on her political career ran like an international endorsement four years in advance of the iowa caucus. >> okay. new jersey governor chris christie is asking for 100% reimbursement from the federal government for the costs of emergency response the state faced in the wake of hurricane sandy. christie said in a letter to fema that the economic damage in his state could top $40 billion. he also plans to couple to washington to press his case later this week. both christie and new york governor andrew cuomo are asking for full compensation for their state's efforts. the white house is also expected to ask for more money. >>> and just one month after th
according to "the new york times," blook called clinton to encourage her to run for mayor in 2013. the call reportedly took place months ago and hillary said thanks but no thanks. this comes as a recent headline from the new yorker editor david riddick declared hillary is running. he reads that conclusion after witnessing secretary clinton as a main speaker at a conference in washington this weekend where he says a slickly produced film on her political career ran like an...
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mayor clinton. >> mayor chelsey clinton. >> jennifer: you think hillary clinton would be interested in being mayor? >> no, as great as new york is, i think it would feel like a demotioning to from traveling the world as secretary of state to dining the fine restaurant of new york. i think they'll vote in quinn. >> jennifer: karl, let me follow up with you. there is a new york democrat nate shinigoa who lost his race, but he received a letter from hillary clinton, and he posted it on his facebook. and she's in fact in that letter encouraging him to keep on fighting in the political website, saying that is new for clinton. do you think she's building support for a presidential campaign? >> i don't think she's building support to go on a nice long vacation. >> jennifer: i totally agree. >> which is probably what she's going to do, take a break while her team puts everything together. it's smart politics congratulating, and offering condolences to anyone who lost. i think it's pretty normal. i think it's usual that a candidate would put it up for the world to see but i think it's a smart t
mayor clinton. >> mayor chelsey clinton. >> jennifer: you think hillary clinton would be interested in being mayor? >> no, as great as new york is, i think it would feel like a demotioning to from traveling the world as secretary of state to dining the fine restaurant of new york. i think they'll vote in quinn. >> jennifer: karl, let me follow up with you. there is a new york democrat nate shinigoa who lost his race, but he received a letter from hillary clinton, and he...
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this thing should haunt hillary clinton. believe me it was a political decision by mrs. clinton to not go out and do those talk shows on sunday. it's one thing to come out bill and make a statement saying this is what i believe happened. it's another thing to sit for the committees. you put ambassador rice out there and everybody knows even chris wallace knew he couldn't pound her too hard because it's not her bailiwick. this thing should haunt hillary clinton. it should haunt barack obama and the american people, the second greatest tragedy here after the death of four americans is the fact that more americans are not pushing for answers on what happened in benghazi. >> bill: all right. there thor, thanks very much. and i must say that i'm an admirer of mr. thor's work. it's always very very interesting to read. when we come right back, it will be miller time. higher taxes, the royal pregnancy and unicorns all on the rundown tonight. miller is next. >> bill: thanks for staying with us, i'm bill o'reilly in the miller time s
this thing should haunt hillary clinton. believe me it was a political decision by mrs. clinton to not go out and do those talk shows on sunday. it's one thing to come out bill and make a statement saying this is what i believe happened. it's another thing to sit for the committees. you put ambassador rice out there and everybody knows even chris wallace knew he couldn't pound her too hard because it's not her bailiwick. this thing should haunt hillary clinton. it should haunt barack obama and...
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just let the top rates go back to clinton era levels. i don't like it. you don't like it. but it beats the budget terry oops you are going through right now to raise the same amount of dough. limiting the writeoffs and opening the can of worms is not worth it. less hassle and less revenue overall. if you raise the rates now and save the big foit for a -- the big fight for a conflict. and quit saying entitlements are off the table. curbing the growth is not the same as throwing granny off the cliff. get off your high horse and talking points and get this. republicans just gave you revenues. return the offer. give them a spending road map. if they are going to raise the top rate close to 5% i say you slice the growth in entitlement spending by 2% now and more later. both parties agree to keep growth in all government spending. all of it to no more than 2% a year half the rate at which it is spiraling out of control. super hero fix six, slowly rage the eligibility from 65 to 67 exempting those who are 58 or older now to allow for this adjustment to be slowly worked in. nancy
just let the top rates go back to clinton era levels. i don't like it. you don't like it. but it beats the budget terry oops you are going through right now to raise the same amount of dough. limiting the writeoffs and opening the can of worms is not worth it. less hassle and less revenue overall. if you raise the rates now and save the big foit for a -- the big fight for a conflict. and quit saying entitlements are off the table. curbing the growth is not the same as throwing granny off the...
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he increased the income tax by 10%, but the huge surge in revenues under clinton came through the capital gains tax cut, not from the income-tax increase. lou: you and i have done what the republicans, perhaps too often. we talk about the economics of it, the theory of it, if you will, the extraction of it, but but the reality is the repuican party has not come up with a rejoinder, a response to a, if ou will, a socialist redistributionist president who right now claims the field is on because there is no other standard flng over that field. there is a speaker of the house to is simply saying, this is not right. you know, we are not at the table and complainingbut not, not engaging. >> i think we have got to engage the argument. we cannot win the argument while acknowledging that an increase in tax rates would increase revenues and all. it will just today the top 1 percent are payi about 40 percent of the income tax. the top 25 percent are paying 87% of the income tax. it does not get any better than that. this is under the bush tax rates. you eliminate those tax rates and you will get le
he increased the income tax by 10%, but the huge surge in revenues under clinton came through the capital gains tax cut, not from the income-tax increase. lou: you and i have done what the republicans, perhaps too often. we talk about the economics of it, the theory of it, if you will, the extraction of it, but but the reality is the repuican party has not come up with a rejoinder, a response to a, if ou will, a socialist redistributionist president who right now claims the field is on because...
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. >>> earlier today secretary of state hillary clinton said farewell to nato allies during a visit to brussels. as she contemplates the future, she may well be encouraged by a new washington post poll. asked if they would vote for her if she ran for president in 2016, 57% said yes while 37% said no. joining us is our white house correspondent kristen welker. we found out the editor of "the new yorker" said hillary clinton would run in 2016 and dustin hoffman would support her if she ran but what chatter are you hearing around the white house about that? >> reporter: democratic sources tell me the secretary of state just hasn't decided yet. she's still in the process of mulling over this decision. having said that, they also tell me that the political operation is doing what they need to do to preserve the right to run if that's what she decides to do in 2016. that's playing out behind the scenes. publicly we've seen this unfold for quite some time. her president, former president bill clinton, was president obama's key surrogate during this election cycle, setting the stage for presid
. >>> earlier today secretary of state hillary clinton said farewell to nato allies during a visit to brussels. as she contemplates the future, she may well be encouraged by a new washington post poll. asked if they would vote for her if she ran for president in 2016, 57% said yes while 37% said no. joining us is our white house correspondent kristen welker. we found out the editor of "the new yorker" said hillary clinton would run in 2016 and dustin hoffman would support her...
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. >>> hillary clinton for new york city mayor. that's what outgoing mayor michael bloomberg wants. according to the "new york times," bloomberg reach ed out o the secretary of state and asked her to consider running next year but says hillary clinton declined. secretary said she will leave public service once her successor is in place. >>> one of the world's leading experts in fashion add the title of ambassador to her name? anna wintour, editor in chief of vogue magazine is one of several people president obama is considering for the ambassador post to the united kingdom or france. wintour is a u.s. citizen, but was born in the united kingdom. she is one of the president's biggest fund-raisers. >>> federal judge temporarily blocks federal law, banning the use of conversion therapy. his ruling applies to only three providers who want the law overturned. the therapy is aimed at helping change a minor sexual orientation from gay to straight. >>> 13 people dead, 32 wounded. now the judge in the case has been removed. u.s. court of appeals for the armed services says the judge showed b
. >>> hillary clinton for new york city mayor. that's what outgoing mayor michael bloomberg wants. according to the "new york times," bloomberg reach ed out o the secretary of state and asked her to consider running next year but says hillary clinton declined. secretary said she will leave public service once her successor is in place. >>> one of the world's leading experts in fashion add the title of ambassador to her name? anna wintour, editor in chief of vogue...
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bill clinton along others says said if there's a movie made by hillary clinton meryl streep should get the part. >>> next, secretary who? at a u.n. event to benefit people with disantibiotics, john mccain took on the rumors of who will be the next secretary of state after an introduction from john kerry. >> senator mccain. >> thank you very much, mr. secretary. >> kerry stepped up again after mccain but refused to bite on that one. >> thank you very much, mr. president. this is what happens when you get two losers up here, folks. >> that was a good line. kerry has been careful to stay clear of the public speculation about whom the president will actually pick to replace hillary clinton. >>> also, ads governor jan brewer, she's a heavyweight, in a comment about global warming. she doesn't think it's man made, but her own explanation for climate change is rather lacking. here is what she told a local reporter. >> everybody has an opinion on it, you know, and i probably don't believe it's manmade. i believe that, you know, weather and certain elements are controlled maybe by different thi
bill clinton along others says said if there's a movie made by hillary clinton meryl streep should get the part. >>> next, secretary who? at a u.n. event to benefit people with disantibiotics, john mccain took on the rumors of who will be the next secretary of state after an introduction from john kerry. >> senator mccain. >> thank you very much, mr. secretary. >> kerry stepped up again after mccain but refused to bite on that one. >> thank you very much, mr....
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. >> james, you are super, but if you give the democrats the great clinton tax rates you have to get the spending rate to g.d.p. at the same time. >> you are right. we will see. >> ruth from tell. >> i am in agreement with the fiscal cliff, you are my hero. we. >> robert, e-mail, perfect solution, again you nailed it, neil. >> jay from arizona, to the super hero i am glad someone is coming to the aid of the country. if you want do be a super hero you may want to turn your tall ends to educate the people on economics of country. >> that is what i do as a mortal on this follow show and on fox business network each day, jay every day, without a super her overoutfit. >> and i often watch with my dad and i think you are funny but i wonder, was he an odd kid? you seem like you would have done some odd things? >> well, if you call always worrying about the planet trying to say that the odds, well, guilty. >> kathy from hotmail, i love you, not in a romantic we because you saw it as it is. why not run for budget? i was too busy being a super hero, leaving mere mortals to lead. >> from north
. >> james, you are super, but if you give the democrats the great clinton tax rates you have to get the spending rate to g.d.p. at the same time. >> you are right. we will see. >> ruth from tell. >> i am in agreement with the fiscal cliff, you are my hero. we. >> robert, e-mail, perfect solution, again you nailed it, neil. >> jay from arizona, to the super hero i am glad someone is coming to the aid of the country. if you want do be a super hero you may want...
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. >> ford is your we offered a serious proposal based on testimony of friends that clinton's former chief of staff. since then there has been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to a slow walk our economy right to the edge of the fiscal cliff. gerri: earlier i askd republican senator richard shelby of alabama for histake on the comments from boehner. >> i believe that speaker boehner is on the right track. the president has not come uptown now, been deeply involved, that we know about , in any of these offers are counterfers dealers said he has been campaigning to meet. but he has to get involved if he wants to avoid the fiscal liff. i think that the speaker has indicated that he will try to engage in, t to meet him and try to avoid the fiscal cleft that the presiient is gng to continue to say it is my way or the highway, that is another game. gei: it is. harry reid today saying that the game is at chess game, and the republicans are the jets. here is harry reid. >> he has a problem. he has three quarterbacks
. >> ford is your we offered a serious proposal based on testimony of friends that clinton's former chief of staff. since then there has been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to a slow walk our economy right to the edge of the fiscal cliff. gerri: earlier i askd republican senator richard shelby of alabama for histake on the comments from boehner. >> i believe that speaker boehner is on the right...
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we have the same tax rates that we have when bill clinton was president. significant cuts in defense and also significant human services can you tell us. >> katie, let me ask you, before you respond to what governor dean is saying. there is logic to what howard dean is saying. i don't happen to agree with it. but i know where he's coming from. katie, let me ask you this -- katie can't hear me. we'll wait for her to get back hooked in. howard, what about the notion that i'm posing tonight -- i've said this a few times -- republicans better be careful. they're not going down your road and the democrats aren't going down your road. you have middle class tax cuts for the democrats and it sometimes sounds to me as an old reagan conservative that the republicans better watch themselves because sometimes it sounds like they are kind of defending rich people. that's their whole mantra, just defending rich people. and i think that's not where they should be. >> i would agree. if i were politically advising the republicans, which i'm certainly not, i think tom colts
we have the same tax rates that we have when bill clinton was president. significant cuts in defense and also significant human services can you tell us. >> katie, let me ask you, before you respond to what governor dean is saying. there is logic to what howard dean is saying. i don't happen to agree with it. but i know where he's coming from. katie, let me ask you this -- katie can't hear me. we'll wait for her to get back hooked in. howard, what about the notion that i'm posing tonight...
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obama versus clinton. they are both up for a grammy in the best spoken word album. >>> 2, 1. >> the first lady joined her husband to light the 28-foot blue spruce christmas tree. it was transplanted days before hurricane sandy before made it. in case you're wondering, this year's white house holiday card is all about bo. the card was designed by an iowa artist and dog lover. that's too cute. >> you can't go wrong if you put your pets or your kids on a card. >> do you put yourself? >> never. >> just kids? >> just kids. >> the white house christmas card is a big deal. when you're on the white house staff, you get a special version of it. people frame it. this is a beautiful card. i love it. >> our team this morning weigh in on the important topic of the annual christmas card for the white house. will cain, cnn contributor. richard socarides, a writer for new yorker.com. this is kind of a disgusting story about snake hunts. not snakes on a plane exactly, but more like this. >> enough is enough. i have had it
obama versus clinton. they are both up for a grammy in the best spoken word album. >>> 2, 1. >> the first lady joined her husband to light the 28-foot blue spruce christmas tree. it was transplanted days before hurricane sandy before made it. in case you're wondering, this year's white house holiday card is all about bo. the card was designed by an iowa artist and dog lover. that's too cute. >> you can't go wrong if you put your pets or your kids on a card. >> do you...
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try to do something a little bit more mainstream with a little bit more broad appeal, a la hillary clinton in her first couple of months up here on capitol hill. they don't expect her to focus entire loin the consumer financial protection bureau, for example. they think she would like a larger beach head on capitol hill and i think that is where this is going. >> thank you very much. take it down to sue at the nyse. >> i have kenny poll carry, independent trader at the nyse with me. you made a note in your morning note that we are stuck this in range until we get progress. >> look where we are, between 1400 on the downside you can and 1420 the upside. today, done absolutely nothing, at 1404, 1406 all day, not a lot of action, not a lot of activity at all. people just in this wait and see mode, right? more chatter out of washington. i think a lot of people expecting the interview with the president, hear what he had to same the market got weaker after spoke. >> down 18 point on the trading session now the volume disturbing now, because there is none. >> that just tells that you investors ar
try to do something a little bit more mainstream with a little bit more broad appeal, a la hillary clinton in her first couple of months up here on capitol hill. they don't expect her to focus entire loin the consumer financial protection bureau, for example. they think she would like a larger beach head on capitol hill and i think that is where this is going. >> thank you very much. take it down to sue at the nyse. >> i have kenny poll carry, independent trader at the nyse with me....
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michelle obama and bill clinton have been nominated for grammy awards. the first lady was nominated in the best spoken word category for the audio version of "american grown," the book that tells the story of the white house garden and encourages healthy eating. and the former president was nominated in the same category for "back to work, why we need smart government for a strong economy." the returns for this race will be on february 10th when we'll find out who won. we'll be right back. >>> welcome back to "hardball." did republican efforts to suppress the vote backfire this time? in dozens of states they made efforts to keep people, especially minorities and poor people, from getting to the ballot box. they shortened early voting periods. well, it didn't work. minority turnout remained steady from 2008, and in some states it increased, like ohio. some civil rights leaders say it was those attempts at voter suppression that drove voters out to vote even if it meant standing in line for hours. what is clear is the republican party has a deeper problem
michelle obama and bill clinton have been nominated for grammy awards. the first lady was nominated in the best spoken word category for the audio version of "american grown," the book that tells the story of the white house garden and encourages healthy eating. and the former president was nominated in the same category for "back to work, why we need smart government for a strong economy." the returns for this race will be on february 10th when we'll find out who won. we'll...
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what does hillary clinton do now? the buzz around d.c. from both sides of the aisle have her getting ready for a presidential run. we'll look at the pros and the cons. that's next on "cbs this morning." >>> this portion of "cbs this morning" sponsored by aarp, fighting to keep medicare and social security strong for generations to come. e strong for generations to come. anncr: but you deserve straight talk about the options on the... table and what they mean for you and your family. ancr: aarp is cutting through all the political spin. because for our 37 million members, only one word counts. get the facts at earnedasay.org. let's keep medicare... and social security strong for generations to come. but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! to practice math more? i love math! but two ipads means two data plans? that's craz
what does hillary clinton do now? the buzz around d.c. from both sides of the aisle have her getting ready for a presidential run. we'll look at the pros and the cons. that's next on "cbs this morning." >>> this portion of "cbs this morning" sponsored by aarp, fighting to keep medicare and social security strong for generations to come. e strong for generations to come. anncr: but you deserve straight talk about the options on the... table and what they mean for you...
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the latest abc news/"washington post" poll shows 57% would vote for clinton in a 2016 presidential bid. >>> turning now to news overseas. all eyes are on two tense situations developing by the hour that could have serious implications for the united states. in syria, with the assad regime growing increasingly desperate, intelligence reports indicate that a chemical attack against his own people could be imminent. even russia, syria's most powerful ally, is alarmed. their foreign minister met yesterday with secretary clinton, discussing the possibility of a syria without assad in power. this morning, rebels have declared damascus's airport a military target, warning civilians and airlines not to approach it. >>> and in egypt, tanks and barbed wire barricades returned to the streets of cairo as deadly protests raged outside the presidential palace. egyptian president mohamed morsi is calling for a national dialogue but is resolute about his controversial constitution. nbc's ayman mohyeldin is joining us live from cairo monitoring the situation. let's start with egypt. how much more troub
the latest abc news/"washington post" poll shows 57% would vote for clinton in a 2016 presidential bid. >>> turning now to news overseas. all eyes are on two tense situations developing by the hour that could have serious implications for the united states. in syria, with the assad regime growing increasingly desperate, intelligence reports indicate that a chemical attack against his own people could be imminent. even russia, syria's most powerful ally, is alarmed. their...
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this offer more bipartisan credibility, speaker boehner said the plan is based on a proposal by former clinton chief of staff erskine bowles. bowles said he was flattered by the use of his name but satsz the proposal, quote -- so far, this greek fiscal drama has yet failed to return. the larger question for america, the play ends in tragedy on december 31st. joining me now from washington, is the president for -- president of americans for tax reform, conservative counter broker and the man who does not believe in unicorns, pink or otherwise, mr. grover norquist. grover, what a day to have you on the show. thanks for joining us. >> absolutely. of course, you know, north korea and -- media announced they did find unicorns in north korea. >> we don't often take our cues from them. i am one that firmly believes in the existence of unicorns somewhere and hopefully maybe in this fiscal cliff deal. grover, the first question i have for you is this, your pledge, the pledge that many republicans have signed on to, opposes any and all efforts to increase marginal income tax rates and opposes any net re
this offer more bipartisan credibility, speaker boehner said the plan is based on a proposal by former clinton chief of staff erskine bowles. bowles said he was flattered by the use of his name but satsz the proposal, quote -- so far, this greek fiscal drama has yet failed to return. the larger question for america, the play ends in tragedy on december 31st. joining me now from washington, is the president for -- president of americans for tax reform, conservative counter broker and the man who...
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say that the republicans and i think at the end of the day, they probably will give bill clinton, barack obama his tax increase on the rich, but you know what? we go into 2013 with still a trillion dollar deficit and the question i ask you two and president obama if he were on the show, what's act two? what do we do next? >> you do agree with stephen on one thing and that is that there is some work to be done on inefficient spending? >> the best funding program we have in the government is social security. health care. for every dollar, the other three modern countries spend per capita in other dollar, we spend $2.64 and still have 50 million people without insurance. if we could get france's health care system, widely regarded as the best in the world, we could eliminate 40% of income taxes and still have the same deficit. if you look at the federal budget numbers, the budget is coming way down. the economy is improving. higher tacks allow us to create jobs where people are investing in things that make commerce work better. all private wealth is built on a foundation of commonwealth. i
say that the republicans and i think at the end of the day, they probably will give bill clinton, barack obama his tax increase on the rich, but you know what? we go into 2013 with still a trillion dollar deficit and the question i ask you two and president obama if he were on the show, what's act two? what do we do next? >> you do agree with stephen on one thing and that is that there is some work to be done on inefficient spending? >> the best funding program we have in the...
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michelle obama and bill clinton have been nominated for grammy awards. the first lady was nominated in the best spoken word category for the audio version of "american grown," the book that tells the story of the white house garden and encourages healthy eating. and the former president was nominated in the same category for "back to work, why we need smart government for a strong economy." the returns for this race will be on february 10th when we'll find out who won. we'll be right back. ...but he'd wait for her forever, for any reason, and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. ...to help keep rocky's body as strong as a love that never fades... if he ever lets her leave again. iams. keep love strong. >>> welcome back to "hardball." did republican efforts to suppress the vote backfire this time? in dozens of states they made efforts to keep people, especially minorities and poor people, from getting to the ballot box. they
michelle obama and bill clinton have been nominated for grammy awards. the first lady was nominated in the best spoken word category for the audio version of "american grown," the book that tells the story of the white house garden and encourages healthy eating. and the former president was nominated in the same category for "back to work, why we need smart government for a strong economy." the returns for this race will be on february 10th when we'll find out who won. we'll...
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bush and clinton administrations. both of you went to the same university. i'm sure you can agree on everything today. dr. zandi first. >> thank you for the opportunity. it is an honor to be here with kevin, a good friend of mine. let me say that these are my own personal views. they don't represent the views of the moody's corporation. lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue rarely soon. -- an issue fairly soon. third, achieving long-term fiscal sustainability. that is deficit reduction and tax increases and spending cuts that allow the gdp ratio to stabilize by the end of the decade. these three things need to be done now. in terms of the fiscal cliff, if policy is unchanged and we go over the cliff and there is still no change after that, the gdp in 2013 will 3.5 percentage points. subtract that and that is a severe recession. cbo and others are probably us are underestimating how severe that will be because confidence is very weak. it is unclear h
bush and clinton administrations. both of you went to the same university. i'm sure you can agree on everything today. dr. zandi first. >> thank you for the opportunity. it is an honor to be here with kevin, a good friend of mine. let me say that these are my own personal views. they don't represent the views of the moody's corporation. lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue...
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going back to the clinton tax rates, remember, the average american family has taken a hit. median income four years ago was $54,000 a year. it is about $50,000 a year now. this portion of the population has been squeezed. adding taxes on 90% will not be helpful. how much do you want folks to bear? freezing those tax rates for the overwhelming majority of americans is a smart thing to do. host: you said fight later on. guest: the fight would start the next day. we could do what i'm talking about, and negotiations could continue. doing what i'm talking about does not violate what either side is fighting over. they both say this is something we want to do. why not make sure we do not have some last-minute failure at the end of december. guest: what gives you confidence that democrats would agree later on? guest: this is where i disagree with some of my colleagues. they seem to think the american people are leveraged, and this is the democrats leverage. our leverage is in the spending and entitlement issues. the president and his negotiators are smart and able people. they know
going back to the clinton tax rates, remember, the average american family has taken a hit. median income four years ago was $54,000 a year. it is about $50,000 a year now. this portion of the population has been squeezed. adding taxes on 90% will not be helpful. how much do you want folks to bear? freezing those tax rates for the overwhelming majority of americans is a smart thing to do. host: you said fight later on. guest: the fight would start the next day. we could do what i'm talking...
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we'll go back to the clinton era, which will happen at the beginning of the year. >> stephanie: yeah. >> caller: and i mean also other people in the lower-income brackets will have to pay more, but i think we're willing to do that. >> stephanie: i don't think it's a preferable thing to go off of the cliff, but the more and more you see republicans have not changed one bit from their obstructionist ways i think, yeah, maybe. >> caller: it doesn't mean that starting january, the world will come to an end. >> caller: yeah, it's gradual. >> caller: and if you ask the people -- fortunately i live in texas, so the previous president i didn't -- i agree with a lot of times, but i will just say that he never asked us to sacrifice anything. he told us to go shopping. >> stephanie: yeah. >> caller: that is -- it's crazy. >> stephanie: exactly, unless you cut a [ inaudible ] for that last pair of [ mumbling ] shoes. >> stephanie: i should have picked an easier to pronounce shoe. >> keds. [ laughter ] >> stephanie: this is the headlines. they really have not -- they presented another budget where
we'll go back to the clinton era, which will happen at the beginning of the year. >> stephanie: yeah. >> caller: and i mean also other people in the lower-income brackets will have to pay more, but i think we're willing to do that. >> stephanie: i don't think it's a preferable thing to go off of the cliff, but the more and more you see republicans have not changed one bit from their obstructionist ways i think, yeah, maybe. >> caller: it doesn't mean that starting...
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secretary of state hillary clinton says that the u.s. stands by the syrian people and not president assad. >> the united states stands with the syrian people in insisting that any transition process result in a unified democratic syria in which all citizens are represented. the future of this kind cannot possibly include assad. >> meanwhile, senator john mccain has said that the u.s. needs to take action. >> we do know absolutely that these weapons have been readied for use by bashar assad's aircraft. we urge the president of the united states to make whatever military preparations are necessary. >> joining me now, joel ruben. thank you for joining me. have they already crossed the red line that the president put out for intervention? should the u.s. intervene, as senator mccain is asking for? >> the situation in syria is something we've never seen before. we have a country collapsing and this country has significant weapons of mass destruction. syria has not signed a chemical weapons convention. they have not, however, moved to use thes
secretary of state hillary clinton says that the u.s. stands by the syrian people and not president assad. >> the united states stands with the syrian people in insisting that any transition process result in a unified democratic syria in which all citizens are represented. the future of this kind cannot possibly include assad. >> meanwhile, senator john mccain has said that the u.s. needs to take action. >> we do know absolutely that these weapons have been readied for use by...
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Dec 5, 2012
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on january 1 we go back to the clinton tax rates on everybody. number two, there's the beginning of a process of $1.2 trillion in spending cuts from the -- half from the pentagon and half from domestic spending. it would be gradual. so if we got to january 1 with nothing done, congress would still have time to act in both areas before the impact of those policies took effect. host: if congress disagree -- if investors start to doubt a deal could be reached, the consequences could prove to be severe and difficult to reverse. causing consumers and businesses to retrench, dampening investment. a genie you could not put back in the bottle. guest: i think there is some basis for that. what's happened in congress, it's been dysfunctional, is that we are doing things not by steady negotiations but by super brinksmanship. that's what happened in the debt ceiling fight last august. that's what happened in the budget debate in december of 2011. when we went right up to the midnight hour to determine whether we were going to keep the lights on in government
on january 1 we go back to the clinton tax rates on everybody. number two, there's the beginning of a process of $1.2 trillion in spending cuts from the -- half from the pentagon and half from domestic spending. it would be gradual. so if we got to january 1 with nothing done, congress would still have time to act in both areas before the impact of those policies took effect. host: if congress disagree -- if investors start to doubt a deal could be reached, the consequences could prove to be...